Gala Enterprises reports the following information regarding the production on one of its products for the month. Direct labor standard (2 hrs. a $15/hr.) Actual direct labor hours Actual finished units produced Actual cost of direct labor $30 per finished unit 60,800 hrs. 30.000 units $905,920 Direct materials standard (6 lbs. a $3/lb.) Actual direct materials used Actual finished units produced Actual cost of direct materials used $18 per finished unit 179,000 lbs. 30,000 units $554,900 Direct labor standard (2 hrs. @ $15/hr.) Actual direct labor hours Budgeted units Actual finished units produced $30.00 per finished unit 60,800 hrs. 31,000 units 30.000 units Standard variable OH rate (2 hrs. @ $14.00/hr.) Standard fixed OH rate ($310,000/31,000 units) Actual variable overhead costs incurred Actual fixed overhead costs incurred $28.00 per finished unit $10.00 per unit $857,600 $312.000 A - Compute the total direct labor cost variance, the direct labor rate variance, the direct labor efficiency variance and identify each as either favorable or unfavorable. B - Compute the total direct materials cost variance, the direct materials price variance, the direct materials quantity variance and identify each as either favorable or unfavorable. C- Compute the manufacturing overhead spending variance and the manufacturing overhead volume variance and identify each as either favorable or unfavorable. D - Prepare the journal entries: (1) to charge materials (at standard) to Work in Process; (ii) to charge direct labor (at standard) to Work in Process; (iii) to charge manufacturing overhead (at standard) to Work in Process iv) to close any over-or underapplied overhead to Cost of Goods Sold